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Nov 13, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-12-24
US wheat futures rise

US wheat futures rise

US wheat futures closed higher on Monday as a late rally pushed up prices amid expectations for a pickup in export business following weeks of slow demand, traders said. Light short covering also supported prices. Firm dollar limited gains for much of the
Published 24 Dec, 2008 12:00am
10 equities worth Rs 7.4 billion offered to public in 2008

10 equities worth Rs 7.4 billion offered to public in 2008

Despite record fall in equity values and slowdown in overall economy, the Karachi stock market witnessed 10 IPOs in 2008, worth Rs 7.4 billion as compared with 9 IPOs worth Rs 15.5 billion in 2007. Interestingly, 9 out of 10 offerings in 2008 occurred bef
Published 24 Dec, 2008 12:00am
Listless trading on cotton market

Listless trading on cotton market

Sluggish trading was seen on the cotton market on Tuesday due to mills' absence, dealers said. The official spot rate was unchanged at Rs 2925. Phutti prices were also same both in Punjab and Sindh at Rs 1450-1550. Market sources said that the Trading Cor
Published 24 Dec, 2008 12:00am
Thin business on grain market

Thin business on grain market

No major changes were seen on the grain market on Tuesday as most of the commodities maintained overnight levels, dealers said. On the cereals side, wheat old and new bardana maintained upward trend, gaining more Rs 15 to Rs 2740-2765. Moong Punjab was hi
Published 24 Dec, 2008 12:00am
Malaysian tin down

Malaysian tin down

Malaysia's tin market slipped nearly 1 percent on Tuesday due to weaker London Metal Exchange prices and slow buying, one dealer said.
Published 24 Dec, 2008 12:00am
Indian sugar falls

Indian sugar falls

Indian sugar futures erased early gains and fell on Tuesday as traders locked in profits after prices had climbed more than 5 percent in two weeks. Firm spot prices and lower output forecasts limited the drop in futures and the outlook remained upbeat ove
Published 24 Dec, 2008 12:00am
Interpol satisfied with Pakistan's measures

Interpol satisfied with Pakistan's measures

Interpol has expressed satisfaction over measures taken by Pakistan in connection with the Mumbai carnage. During his meeting with Interpol Secretary General Ronaldo K Noble, Adviser to the Prime Minister on Interior Rehman Malik said India did not provid
Published 24 Dec, 2008 12:00am
Australian cotton plugs gap left by poor Texas crop

Australian cotton plugs gap left by poor Texas crop

Australian cotton is expected to plug a gap left by a poor harvest in Texas, one of Australia's largest cotton growers and processors said on Tuesday. Namoi Cotton, which produces about 35 percent of Australia's cotton, said mills in Indonesia and Thailan
Published 24 Dec, 2008 12:00am
US rice makes gains

US rice makes gains

US rough rice futures at the Chicago Board of Trade closed higher on Monday, led by the spot contract January amid a limited supply of cash rice as farmers hold tight, traders said. January-March spread firmed 8 cents as firms exited January positions bef
Published 24 Dec, 2008 12:00am
New York sugar easier

New York sugar easier

Raw sugar futures settled at a fresh two-week low on Monday after an early short-covering bounce faded at the 11-cent level and a decline in the price of crude oil triggered another downside push, brokers said. The key March raw sugar contract shed 0.10 c
Published 24 Dec, 2008 12:00am
Singh says India wants Pakistan action, not 'war hysteria'

Singh says India wants Pakistan action, not 'war hysteria'

India asked Pakistan on Tuesday to avoid 'war hysteria' and simply act to dismantle the terrorist infrastructure operating in its country. "The issue is not war, the issue is terror and territory in Pakistan being used to promote, aid and abet this terror
Published 24 Dec, 2008 12:00am
US copper rises

US copper rises

US copper futures rose to a one-week high Monday on the back of a weak dollar and demand optimism stemming from stronger imports of the metal into China, the world's largest consumer of the metal. But the bullish momentum faded and traders booked profits
Published 24 Dec, 2008 12:00am
China urges India and Pakistan to improve ties

China urges India and Pakistan to improve ties

China on Tuesday urged India and Pakistan to improve their relations after the Mumbai terrorist attacks, which have raised tensions between the two neighbours. India blames Pakistan-based militants for the deadly November 26-29 siege of parts of Mumbai th
Published 24 Dec, 2008 12:00am
Shanghai copper drifts lower

Shanghai copper drifts lower

Copper futures prices in Shanghai slipped more than 1 percent on Tuesday, shrugging off China's smaller-than-anticipated interest rate cut, as investors fretted over the global demand outlook. China trimmed interest rates on Monday in a latest step to fen
Published 24 Dec, 2008 12:00am
China urges India and Pakistan to improve ties

China urges India and Pakistan to improve ties

China on Tuesday urged India and Pakistan to improve their relations after the Mumbai terrorist attacks, which have raised tensions between the two neighbours. India blames Pakistan-based militants for the deadly November 26-29 siege of parts of Mumbai th
Published 24 Dec, 2008 12:00am
US soy futures higher

US soy futures higher

US soybean futures on the Chicago Board of Trade rose to a three-week high on Monday, lifted by strong domestic cash markets as a slow farmer selling pace was not keeping pace with an active export program out the Gulf, traders said. China, the world's to
Published 24 Dec, 2008 12:00am
Fourth quarter to be worse than third: White House

Fourth quarter to be worse than third: White House

The US economy''s fourth quarter will be "significantly weaker" than the third, the White House warned Tuesday amid release of negative housing data and confirmation the economy shrank 0.5 percent in the July-September period.
Published 24 Dec, 2008 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian crude palm oil futures fell 3.6 percent on Tuesday, extending midday losses as the market tracked declines in other vegetable oils and crude prices hovered below $40 a barrel. Crude palm oil was one of the first commodities this year to feel the
Published 24 Dec, 2008 12:00am
Fourth quarter to be worse than third: White House

Fourth quarter to be worse than third: White House

The US economy's fourth quarter will be "significantly weaker" than the third, the White House warned Tuesday amid release of negative housing data and confirmation the economy shrank 0.5 percent in the July-September period.
Published 24 Dec, 2008 12:00am
US gold stronger

US gold stronger

US gold futures settled with moderate gains on Monday, helped by weakness in the dollar versus the euro amid renewed signs of economic gloom, but volumes were light and the range constrained, traders said. February finished $9.80, or 1.17 percent, higher
Published 24 Dec, 2008 12:00am
Fourth quarter to be worse than third: White House

Fourth quarter to be worse than third: White House

The US economy's fourth quarter will be "significantly weaker" than the third, the White House warned Tuesday amid release of negative housing data and confirmation the economy shrank 0.5 percent in the July-September period.
Published 24 Dec, 2008 12:00am
Oil deepens losses below $40, in Asia

Oil deepens losses below $40, in Asia

Oil prices extended their sharp fall to drop further below $40 a barrel on Tuesday, weakened anew by growing signs of deteriorating world oil demand. Final third-quarter US gross domestic product data due later in the day is likely to underscore the ailin
Published 24 Dec, 2008 12:00am
US economy shrinks as IMF warns of great depression

US economy shrinks as IMF warns of great depression

The US economy shrank in the third quarter, official data confirmed Tuesday, as the IMF's top economist warned of a second Great Depression offering no respite from relentless gloom ahead of Christmas. The abrupt 0.5-percent contraction of gross domestic
Published 24 Dec, 2008 12:00am
China eyes emerging markets for 2009 exports: minister

China eyes emerging markets for 2009 exports: minister

China will work hard to sell more products to emerging markets in 2009 to maintain stable export growth as the global financial crisis takes a heavy toll on wealthier countries, China's trade minister said on Tuesday. Minister of Commerce Chen Deming said
Published 24 Dec, 2008 12:00am
Inter-ministerial panel to consider plight of auto industry today

Inter-ministerial panel to consider plight of auto industry today

An inter-ministerial panel will explore further ways and means to facilitate the sinking auto industry, in addition to earlier approved incentives, including a reduction from two to one percent in monthly depreciation of imported used cars, well-informed
Published 24 Dec, 2008 12:00am
China eyes emerging markets for 2009 exports: minister

China eyes emerging markets for 2009 exports: minister

China will work hard to sell more products to emerging markets in 2009 to maintain stable export growth as the global financial crisis takes a heavy toll on wealthier countries, China's trade minister said on Tuesday. Minister of Commerce Chen Deming said
Published 24 Dec, 2008 12:00am
Inter-ministerial panel to consider plight of auto industry today

Inter-ministerial panel to consider plight of auto industry today

An inter-ministerial panel will explore further ways and means to facilitate the sinking auto industry, in addition to earlier approved incentives, including a reduction from two to one percent in monthly depreciation of imported used cars, well-informed
Published 24 Dec, 2008 12:00am
From boom to bust, Africa reels as economic crisis hits mines

From boom to bust, Africa reels as economic crisis hits mines

The global financial crisis and nose-diving commodity prices have dealt a major blow to mining-based African economies, where a recent boom is set to wither, setting back the fight against poverty. Analysts say the economic downturn and its impact on comm
Published 24 Dec, 2008 12:00am
Inter-ministerial panel to consider plight of auto industry today

Inter-ministerial panel to consider plight of auto industry today

An inter-ministerial panel will explore further ways and means to facilitate the sinking auto industry, in addition to earlier approved incentives, including a reduction from two to one percent in monthly depreciation of imported used cars, well-informed
Published 24 Dec, 2008 12:00am
Alcoa to boost stake in Eklem, become biggest aluminium firm

Alcoa to boost stake in Eklem, become biggest aluminium firm

US aluminium giant Alcoa said Monday it had agreed to an equity swap that would boost its stake in Sweden's Elkem Aluminium and make it the ssector's largest manufacturer. Alcoa said it struck a deal with Norweigan Orkla ASA to exchange assets to get 100
Published 24 Dec, 2008 12:00am
Equities suffer more losses on LSE

Equities suffer more losses on LSE

Equities suffered losses across the board on Lahore Stock Exchange (LSE) on Tuesday amid ascending transaction volume in the absence of any positive news on economic fronts. The LSE-25 index shed 109.61 points and ended at 1897.29 against 2006.90 of Monda
Published 24 Dec, 2008 12:00am
Premiere stakes future on debt deal, cash call

Premiere stakes future on debt deal, cash call

German pay-TV broadcaster Premiere staked its future on an ambitious debt restructuring plan, paired with a 450 million euro ($630 million) capital hike which could lead to News Corp becoming its majority owner.
Published 24 Dec, 2008 12:00am
Equities suffer more losses on LSE

Equities suffer more losses on LSE

Equities suffered losses across the board on Lahore Stock Exchange (LSE) on Tuesday amid ascending transaction volume in the absence of any positive news on economic fronts. The LSE-25 index shed 109.61 points and ended at 1897.29 against 2006.90 of Monda
Published 24 Dec, 2008 12:00am
New Zealand recession deepens as global crisis bites

New Zealand recession deepens as global crisis bites

New Zealand's economy suffered its biggest contraction in eight years in the third quarter and the broad-based slump reinforced expectations that global headwinds will keep the nation in recession well into 2009. Gross domestic product fell a seasonally a
Published 24 Dec, 2008 12:00am
Growth slowed down, inflation rose during January-June 2008: survey

Growth slowed down, inflation rose during January-June 2008: survey

A survey of large business firms and companies of Karachi during January-June 2008 confirmed overall slowdown of economic growth and rise in inflation, reflecting growing inflationary pressure on big firms during the period under review.
Published 24 Dec, 2008 12:00am
China to make millions more eligible for poor relief

China to make millions more eligible for poor relief

The number of Chinese eligible for special poor relief will triple to more than 43 million people after the government raises the official poverty line in 2009, state media reported Tuesday. Currently 14.8 million Chinese are considered to earn below the
Published 24 Dec, 2008 12:00am
Growth slowed down, inflation rose during January-June 2008: survey

Growth slowed down, inflation rose during January-June 2008: survey

A survey of large business firms and companies of Karachi during January-June 2008 confirmed overall slowdown of economic growth and rise in inflation, reflecting growing inflationary pressure on big firms during the period under review.
Published 24 Dec, 2008 12:00am
South Korean shipyards and builders face forced restructuring

South Korean shipyards and builders face forced restructuring

South Korea will form a task force to assess the finances of construction firms and smaller shipbuilders and will force unviable companies to restructure, the financial watchdog said Tuesday. The Financial Supervisory Service (FSS) said banks would immedi
Published 24 Dec, 2008 12:00am
Growth slowed down, inflation rose during January-June 2008: survey

Growth slowed down, inflation rose during January-June 2008: survey

A survey of large business firms and companies of Karachi during January-June 2008 confirmed overall slowdown of economic growth and rise in inflation, reflecting growing inflationary pressure on big firms during the period under review.
Published 24 Dec, 2008 12:00am
Indonesian central bank plans new rules for financial products

Indonesian central bank plans new rules for financial products

Indonesia's central bank plans to introduce new rules covering the sale of financial products to the public following big losses by some individual investors, in a move welcomed by some financial industry participants. Bank Indonesia said earlier this wee
Published 24 Dec, 2008 12:00am
NCCPL recommends suspension of 34 KSE brokers

NCCPL recommends suspension of 34 KSE brokers

The National Clearing Company of Pakistan Limited (NCCPL) has sent a notice to Karachi Stock Exchange (KSE) and recommended to suspend the 34 brokers from the trading system, who failed to deposit their outstanding mark-to-market losses.
Published 24 Dec, 2008 12:00am
Tremont hedge loses $3.3 billion in Madoff scandal: source

Tremont hedge loses $3.3 billion in Madoff scandal: source

US hedge fund Tremont Group Holdings invested 3.3 billion dollars with Bernard Madoff, the disgraced investment manager accused in a massive fraud, a source familiar with the matter said Monday. Tremont, a subsidiary of Oppenheimer Acquisition Corporation
Published 24 Dec, 2008 12:00am
NCCPL recommends suspension of 34 KSE brokers

NCCPL recommends suspension of 34 KSE brokers

The National Clearing Company of Pakistan Limited (NCCPL) has sent a notice to Karachi Stock Exchange (KSE) and recommended to suspend the 34 brokers from the trading system, who failed to deposit their outstanding mark-to-market losses.
Published 24 Dec, 2008 12:00am
Tremont hedge loses $3.3 billion in Madoff scandal: source

Tremont hedge loses $3.3 billion in Madoff scandal: source

US hedge fund Tremont Group Holdings invested 3.3 billion dollars with Bernard Madoff, the disgraced investment manager accused in a massive fraud, a source familiar with the matter said Monday. Tremont, a subsidiary of Oppenheimer Acquisition Corporation
Published 24 Dec, 2008 12:00am
NCCPL recommends suspension of 34 KSE brokers

NCCPL recommends suspension of 34 KSE brokers

The National Clearing Company of Pakistan Limited (NCCPL) has sent a notice to Karachi Stock Exchange (KSE) and recommended to suspend the 34 brokers from the trading system, who failed to deposit their outstanding mark-to-market losses.
Published 24 Dec, 2008 12:00am
US awards GD, Northrop $14-billion submarine deal

US awards GD, Northrop $14-billion submarine deal

The US Navy on Monday awarded a $14 billion contract to General Dynamics Corp and Northrop Grumman Corp for eight Virginia-class submarines, saying it had met a "nearly impossible" target of cutting the cost of each ship by $400 million.
Published 24 Dec, 2008 12:00am
FIs barred from disposing of defaulters'' mortgaged properties

FIs barred from disposing of defaulters'' mortgaged properties

A full bench of the Lahore High Court (LHC) while striking down section 15 of Financial Institutions (Recovery of Finances) Ordinance 2001 after declaring it repugnant to the constitution, barred financial institutions from disposing of mortgaged properti
Published 24 Dec, 2008 12:00am
5,000 protest in Ukraine amid fallout from economic crisis

5,000 protest in Ukraine amid fallout from economic crisis

About 5,000 Ukrainians took part in a union-led protest in Kiev on Tuesday to demand higher wages and more social protection in the ex-Soviet republic, which has been hit hard by the global economic crisis. Holding signs such as "No to the impoverishment
Published 24 Dec, 2008 12:00am
FIs barred from disposing of defaulters' mortgaged properties

FIs barred from disposing of defaulters' mortgaged properties

A full bench of the Lahore High Court (LHC) while striking down section 15 of Financial Institutions (Recovery of Finances) Ordinance 2001 after declaring it repugnant to the constitution, barred financial institutions from disposing of mortgaged properti
Published 24 Dec, 2008 12:00am
China premier urges firms to avoid cutting jobs

China premier urges firms to avoid cutting jobs

Chinese Premier Wen Jiabao has urged companies to "do everything possible" to maintain their workforce amid the global downturn, state media said on Tuesday. During a two-day visit to the south-western city of Chongqing from Sunday, Wen expressed great co
Published 24 Dec, 2008 12:00am
FIs barred from disposing of defaulters' mortgaged properties

FIs barred from disposing of defaulters' mortgaged properties

A full bench of the Lahore High Court (LHC) while striking down section 15 of Financial Institutions (Recovery of Finances) Ordinance 2001 after declaring it repugnant to the constitution, barred financial institutions from disposing of mortgaged properti
Published 24 Dec, 2008 12:00am
US existing home sales plunge 8.6 percent in November

US existing home sales plunge 8.6 percent in November

The pace of existing home sales plunged a record 8.6 percent in November to a 4.49-million-unit annual rate, while the median home price dropped for a fifth straight month to $181,300, a National Association of Realtors report showed on Tuesday.
Published 24 Dec, 2008 12:00am
Services sector posts $2 billion deficit in five months

Services sector posts $2 billion deficit in five months

The country registered a deficit of some 2 billion dollars in services sector during the first five months of the current fiscal year, mainly due to huge payments on account of transportation, travel and government services.
Published 24 Dec, 2008 12:00am
Weak sales could topple US carmakers despite bailout

Weak sales could topple US carmakers despite bailout

With a massive government bailout secured, US automakers are focused on a far bigger threat than empty coffers: empty showrooms and spooked consumers. The US auto industry dodged almost certain collapse last week when the government extended 13.4 billion
Published 24 Dec, 2008 12:00am
Services sector posts $2 billion deficit in five months

Services sector posts $2 billion deficit in five months

The country registered a deficit of some 2 billion dollars in services sector during the first five months of the current fiscal year, mainly due to huge payments on account of transportation, travel and government services.
Published 24 Dec, 2008 12:00am
Toyota to replace president amid business slump

Toyota to replace president amid business slump

Toyota Motor Corp plans to replace its president after the Japanese carmaker forecast its first-ever operating loss, a report said Tuesday. The auto giant is considering moving vice president Akio Toyoda to the post, which is held by Katsuaki Watanabe, in
Published 24 Dec, 2008 12:00am
Services sector posts $2 billion deficit in five months

Services sector posts $2 billion deficit in five months

The country registered a deficit of some 2 billion dollars in services sector during the first five months of the current fiscal year, mainly due to huge payments on account of transportation, travel and government services.
Published 24 Dec, 2008 12:00am
Private equity deals at five-year low

Private equity deals at five-year low

Private equity deal volume sank to a five-year low in 2008, one of the industry's roughest years ever, and 2009 is unlikely to get any easier as firms struggle to find deals, keep portfolio companies above water, and pacify increasingly restless investors
Published 24 Dec, 2008 12:00am
US housing slide worsens; Spain joins recession club

US housing slide worsens; Spain joins recession club

The US housing market took a sharp turn for the worse while Spain joined a growing list of countries in a recession that shows no sign of abating. Existing US home sales and prices both fell at a record pace last month, according to a report released on T
Published 24 Dec, 2008 12:00am
Private equity deals at five-year low

Private equity deals at five-year low

Private equity deal volume sank to a five-year low in 2008, one of the industry's roughest years ever, and 2009 is unlikely to get any easier as firms struggle to find deals, keep portfolio companies above water, and pacify increasingly restless investors
Published 24 Dec, 2008 12:00am
US housing slide worsens; Spain joins recession club

US housing slide worsens; Spain joins recession club

The US housing market took a sharp turn for the worse while Spain joined a growing list of countries in a recession that shows no sign of abating. Existing US home sales and prices both fell at a record pace last month, according to a report released on T
Published 24 Dec, 2008 12:00am
UK economy shrinking faster than first thought

UK economy shrinking faster than first thought

Britain edged closer to recession in the third quarter of this year, with the economy contracting by more than previously thought and at its sharpest rate since the early 1990s, according to official data on Tuesday. The Office for National Statistics sai
Published 24 Dec, 2008 12:00am
US housing slide worsens; Spain joins recession club

US housing slide worsens; Spain joins recession club

The US housing market took a sharp turn for the worse while Spain joined a growing list of countries in a recession that shows no sign of abating. Existing US home sales and prices both fell at a record pace last month, according to a report released on T
Published 24 Dec, 2008 12:00am
US Okays China steel duties despite WTO challenge

US Okays China steel duties despite WTO challenge

A US trade panel gave final approval on Monday to import duties on circular welded steel pipe from China in a case already being challenged by Beijing at the World Trade Organisation. The US International Trade Commission voted 6-0 in favour of the US Com
Published 24 Dec, 2008 12:00am
Europe's shoppers show some resilience to slump

Europe's shoppers show some resilience to slump

Consumer morale and spending data around Europe on Tuesday showed some unexpected resilience, suggesting shoppers' gloom about the economic downturn is being tempered by the steep fall in inflation. Consumer spending in France, the euro zone's second larg
Published 24 Dec, 2008 12:00am
GCC suspends EU free-trade talks

GCC suspends EU free-trade talks

The six-nation Gulf Co-operation Council has suspended talks with the European Union over a free-trade agreement, the GCC's secretary general said on Tuesday. "We have informed the European side of the suspension of negotiations on a free-trade accord," s
Published 24 Dec, 2008 12:00am
Retailer KB Toys to be liquidated

Retailer KB Toys to be liquidated

US retailer KB Toys said Monday a bankruptcy judge approved a liquidation of the company that will lead to the closing of all of its 461 stores. The retailer filed for bankruptcy protection earlier this month, highlighting the bleak economic picture at th
Published 24 Dec, 2008 12:00am
German bank IKB gets 5.0 billion euros in loan guarantees

German bank IKB gets 5.0 billion euros in loan guarantees

The troubled German bank IKB, which was saved from bankruptcy with huge amounts of state aid, has received another five billion euros (seven billion dollars) in public loan guarantees, it said on Tuesday. The 36-month guarantee is aimed at allowing IKB to
Published 24 Dec, 2008 12:00am
CIT Group to receive $2.3 billion injection from US Treasury

CIT Group to receive $2.3 billion injection from US Treasury

CIT Group will receive 2.33 billion dollars in capital injection from the US Treasury as part of the emergency rescue package for the country's troubled financial sector, the company said Tuesday. The money comes as part of the government's 700-billion-do
Published 24 Dec, 2008 12:00am
CIT Group to receive $2.3 billion injection from US Treasury

CIT Group to receive $2.3 billion injection from US Treasury

CIT Group will receive 2.33 billion dollars in capital injection from the US Treasury as part of the emergency rescue package for the country's troubled financial sector, the company said Tuesday. The money comes as part of the government's 700-billion-do
Published 24 Dec, 2008 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian shares closed 0.3 percent lower on Tuesday amid lacklustre trade, dealers said. The Kuala Lumpur Composite Index lost 2.27 points to close at 871.16 with a volume of volume of 309.8 million shares worth 327.22 million ringgit (93.9 million dolla
Published 24 Dec, 2008 12:00am
Taiwan stocks drop

Taiwan stocks drop

Taiwan stocks fell 2.86 percent to post their lowest close in more than two weeks on Tuesday, weighed down by struggling DRAM firms, as poor November jobless data renewed investor concerns about the health of the economy. The main TAIEX share index closed
Published 24 Dec, 2008 12:00am
Hong Kong shares down 2.8 percent

Hong Kong shares down 2.8 percent

Hong Kong shares closed 2.8 percent lower on Tuesday, as China stocks suffered after a smaller-than-expected interest rate cut by Beijing, dealers said. The benchmark Hang Seng Index closed down 401.60 points at 14,220.79, its lowest close since December
Published 24 Dec, 2008 12:00am
Wall Street falls on corporate outlook

Wall Street falls on corporate outlook

US stocks slid on Monday on more evidence the year-long recession will keep eating into corporate profits, while retailers tumbled on worry the holiday shopping season could be the worst in nearly 40 years. The news was gloomy right from the start. Top US
Published 24 Dec, 2008 12:00am
Thai shares close 1.46 percent higher

Thai shares close 1.46 percent higher

Thai shares closed 1.46 percent higher on Tuesday as investors bought back big-cap shares for the year's end, dealers said. The Thai market rose against the regional trend while trading was light as many investors stayed on the sidelines, they said.
Published 24 Dec, 2008 12:00am
US bonds ease on government debt supply fears

US bonds ease on government debt supply fears

US Treasury debt prices eased on Monday as a record size auction of 2-year notes added to fears that a rash of new government debt supply will dilute the bond market. But analysts said price moves were exaggerated by very thin trading volume in the holida
Published 24 Dec, 2008 12:00am
US bonds ease on government debt supply fears

US bonds ease on government debt supply fears

US Treasury debt prices eased on Monday as a record size auction of 2-year notes added to fears that a rash of new government debt supply will dilute the bond market. But analysts said price moves were exaggerated by very thin trading volume in the holida
Published 24 Dec, 2008 12:00am
Seoul shares drop three percent

Seoul shares drop three percent

Seoul shares dropped 3 percent on Tuesday, led by auto companies and chipmaker Hynix as investors locked in recent gains on grim earnings outlooks, but SK Telecom and insurers shined on dividend expectations. Hynix Semiconductor came under heavy pressure
Published 24 Dec, 2008 12:00am
Singapore shares decline

Singapore shares decline

Singapore shares closed 1.21 percent lower on Tuesday in sluggish trading ahead of Christmas, dealers said. The blue chip Straits Times Index fell 21.09 points to 1,724.54 on volume of 633 million shares worth 540 million Singapore dollars (373 million US
Published 24 Dec, 2008 12:00am
Philippines shares close 1.2 percent higher

Philippines shares close 1.2 percent higher

Philippines share prices closed 1.2 percent higher on Tuesday due to year-end window-dressing involving blue chip issues, dealers said. The composite index rose 21.25 points to 1,862.19 points, while the all-shares index rose 0.6 percent to 1,190.17 point
Published 24 Dec, 2008 12:00am
China stocks sink to three-week closing low

China stocks sink to three-week closing low

Chinese stocks slid 4.55 percent on Tuesday to a three-week closing low, led by financial and property shares after the central bank announced a rate cut that was much smaller than the market had been anticipating. The Shanghai Composite Index closed at 1
Published 24 Dec, 2008 12:00am
New Zealand shares sag

New Zealand shares sag

New Zealand shares closed 0.67 percent lower on Tuesday in light pre-holiday trading following falls on Wall Street, dealers said. News that the economy shrank 0.4 percent in the September quarter, stretching New Zealand's recession to a third quarter, wa
Published 24 Dec, 2008 12:00am
Canadian dollar rises slightly

Canadian dollar rises slightly

The Canadian dollar closed slightly higher versus the US dollar on Monday, trimming early gains as oil prices declined, while light trading volumes led to wide swings as investors pushed through end-of-year transactions. The currency closed at C$1.2190 to
Published 24 Dec, 2008 12:00am
Hong Kong dollar in tight range

Hong Kong dollar in tight range

The Hong Kong dollar was trapped in a narrow range against the US dollar on Tuesday, while interbank rates eased further amid abundant liquidity in the banking system. The local currency traded between 7.7501 and 7.7507 to the US dollar during the session
Published 24 Dec, 2008 12:00am
Yuan ends up

Yuan ends up

China's yuan closed a touch higher against the dollar on Tuesday but held to a range much lower than the Chinese central bank's daily mid-point, as dealers said an overnight announcement of another monetary easing put downward pressure on the currency.
Published 24 Dec, 2008 12:00am
Dollar slips versus euro

Dollar slips versus euro

The dollar fell against the euro and a basket of currencies on Tuesday as investors awaited a slew of US economic data due later in the day for further clues on the depth of the year-long recession. Asian shares fell after Wall Street slid on more evidenc
Published 24 Dec, 2008 12:00am
Dollar firms, buoyed by Japan data

Dollar firms, buoyed by Japan data

The US dollar recovered some ground against the yen on Monday after sharp losses last week, boosted by data showing Japanese exports slumping and by a warning from the Bank of Japan (BoJ) that its economy has deteriorated and is likely to get worse.
Published 24 Dec, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 68.92/68.92 (previous 68.92/68.92). Call Money Rates: 8.00-12.50 percent (previous 8.00-13.50 percent).
Published 24 Dec, 2008 12:00am
Australian dollar finds tentative support amid gloom

Australian dollar finds tentative support amid gloom

The Australian dollar spent on Tuesday in a tight holding pattern as a holiday in Tokyo kept trading thin and investors bided their time before important US economic news. In late trade, the local dollar was hovering around $0.6832, having spent the sessi
Published 24 Dec, 2008 12:00am
Most Asian currencies weaken

Most Asian currencies weaken

Most Asian currencies fell against the dollar as regional stocks tracked Wall Street lower, but the high-yielding Indonesian rupiah rose on suspected dollar selling by the central bank. The Philippine peso fell 0.7 percent to 47.64 per dollar as risk aver
Published 24 Dec, 2008 12:00am
Swiss franc eases

Swiss franc eases

The Swiss franc eased against the euro on Tuesday, ending a week-long rally, as the single currency rose against most major currencies in thin trading ahead of the Christmas holidays. The franc fell 0.3 percent against the euro compared to the New York cl
Published 24 Dec, 2008 12:00am
Iraq appeals to exiled professionals to come home

Iraq appeals to exiled professionals to come home

Iraq has appealed to exiled doctors, university professors, scientists and other qualified Iraqis to come back now that security has improved, but few exiles said on Tuesday they were ready to return. At a two-day conference aimed at luring back tens of t
Published 24 Dec, 2008 12:00am
China says considering building aircraft carrier

China says considering building aircraft carrier

China, which is sending warships to Somali waters to fend off pirates, says it is now considering building an aircraft carrier to protect its interests, a development likely to worry its neighbours. China's rising military spending has prompted concern in
Published 24 Dec, 2008 12:00am
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